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This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound was also used in Anglo-Egyptian Sudan between 1899 and 1956, and Cyrenaica when it was under British occupation and later an ...
The government also instituted policies to absorb the negative impact of the inflation of the Egyptian pound in November 2016, with the trade deficit recording a peak value at US$38 billion in 2018-2019 due to ongoing rises in oil prices. The trade deficit returned to record high values for a third time in 2020-2021 and 2021–2022 at US$42.1 ...
As the demand pressure from exiting foreign investors eases, the dollar exchange rate against the Egyptian pound is expected to decline. It stands at E£7 per US$1 as of 18 June 2013. Due to the rising power of the US dollar, as of January 2015 one dollar equals E£7.83 .
This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound continued with its exchange rate of £E = £1 0s 6d sterling until the beginning of the 1960s.
The Egyptian pound (EGP) has been converted to the international dollar using the IMF's Purchasing Power Parity conversion rate (one International dollar per 4.538 EGP in 2021). [ 1 ] Governorates by GDP
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The English word "pound" derives from the Latin expression lībra pondō, in which lībra is a noun meaning 'pound' and pondō is an adverb meaning 'by weight'. [ 1 ] [ 2 ] The currency's symbol is ' £ ' , a stylised form of the blackletter 'L' ( L {\displaystyle {\mathfrak {L}}} ) (from libra ), crossed to indicate abbreviation.